Hewlett-Packard Company (HPQ) Reports $27.2 Billion In Q3 Revenues

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Hewlett-Packard Company (NYSE:HPQ) has reported their Q3 2013 results.  The company’s third quarter non-GAAP diluted earnings per share is at $0.86, which is down 14% from the prior year.  The company’s third quarter GAAP diluted earnings per share is at $0.71, which is up from GAAP diluted loss per share of $4.49 in the prior year.  Hewlett-Packard Company (NYSE:HPQ) reported third quarter net revenue of $27.2 billion, which is down 8% from the prior year and down 7% when adjusted for the effects of currency.

The cash flow from operations for Hewlett-Packard Company (NYSE:HPQ) is at $2.7 billion, down 6% from the prior year.  Hewlett-Packard Company (NYSE:HPQ) returned $283 million to shareholders in the form of dividends and share repurchases.

“We once again achieved the financial performance we said we would, delivering $0.86 in non-GAAP diluted earnings per share, within our previously provided outlook of $0.84 to $0.87,” stated Hewlett-Packard Company (NYSE:HPQ) president and chief executive officer Meg Whitman. “I remain confident that we are making progress in our turnaround. We are already seeing significant improvement in our operations, we are successfully rebuilding our balance sheet, our cost structure is more closely aligned with our revenue and we have reignited innovation at HP, with a focus on the customer.”

Hewlett-Packard Company (NYSE:HPQ) is estimating non-GAAP diluted EPS to be in the range of $3.53 to $3.57 and GAAP diluted EPS to be in the range of $2.67 to $2.71, which is in line with HP’s previous outlook. The company’s full year fiscal 2013 non-GAAP diluted EPS estimates exclude after-tax costs of approximately $0.86 per share, related to the amortization of purchased intangible assets, restructuring charges and acquisition-related charges.

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